Quote from: Hfleer on August 15, 2014, 01:14:48 AM

Quote from: ForgottenPassword on August 15, 2014, 01:06:52 AM

Quote from: Hfleer on August 15, 2014, 01:03:07 AM

my investment

This is one of the big problems I see. Lots of people think Bitcoin is some kind of "investment scheme", it's not. Would you "invest" your money by depositing it into PayPal? Bitcoin is a replacement for PayPal. Use it just like you would PayPal. If you need to accept or send a payment to/from someone over the internet, then use bitcoin. Buying bitcoins to speculate on the value is gambling, not investing.

ps. I'm not blind, I was just speaking generally as I continually hear people refer to their bitcoin "investment".

I think I have to disagree there.

Sure, bitcoin in itself shouldn't be used to "invest" but it is an inevital consequence of the fact that SOMEONE needs to hold all BTC at all time. This is different to FIAT that supply can be manipulated by an authority. So bitcoin can't only be used for currency by design.

That leads to a big advantage. As apposed to FIAT, Bitcoin is an excellent Store of value. While fiat will have a very high COMPOUNDED inflation rate, bitcoins inflation rate is predetermined and nocompounding, but rather decreasing till infinetisemal small inflation.

In conclusion: Someone must see Bitcoin as investment, otherwise the whole technologie wouldn't be able to serve its purpose as store of value and currency.

It feels scammy because Wall Street entered the game... note the professional trading algos that are intentionally targeting out key resistance points. There is a ton of market manipulation right now. I actually predicted the crash and still managed to lose 5%. If you buy back in... walk away for a while. When you buy back, make sure you confirmed a bottom (a mistake I've made multiple times)... don't worry about catching the entire rally up... if you catch part of it that's good enough. Finally, set a fixed sell point and don't touch it thereafter (and be reasonable... 5 or 10%... (maybe 20% if you feel ballsy) you can always reassess at that time). What happens is people not only take the ride up, but they also take the ride down. Unless you are a true hodler who thinks this is going to $50,000 (spoiler alert... it's not going to do that), you're just trying to make some quick money and providing liquidity for a potentially cool idea. That's all.

BUT, don't listen to these guys about how you'll be able to retire on this... that's bulls---. You are either donating money to the cause or trying to make 5 to 20% quick and reassessing. Repeat... don't let mission creep intervene (way easier said than done).